The international political economy of the BRICS in a changing world order: attitudes and actualities

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    Abstract

    The rapid global attention on Brazil, Russia, India, China, and South Africa (BRICS) was organically followed by the world financial crisis in 2008 with the decline of the hegemonic dominance of the US-led world order. The BRICS concept, like the concept of emerging market, is a product of the imagination of the international financial community. In many ways, BRICS is interpreted as a kind of “balancing coalition”. Apart from BRICS, other developing countries such as Argentina, Indonesia, Mexico, Saudi Arabia, and Turkey could be considered as second-tier powers because they are becoming successful “emerging markets” outside the group of traditional powers led by US hegemony. International relations and international political economy literature has concentrated on debating the contributions, challenges, and “instabilities” brought about by emerging powers, particularly China, to the existing US-led world order. The chapter also presents an overview of the key concepts discussed in this book.
    Original languageEnglish
    Title of host publicationThe International Political Economy of the BRICS
    EditorsXing Li
    Number of pages17
    PublisherRoutledge
    Publication dateFeb 2019
    Pages1-17
    Chapter1
    ISBN (Print)9781138579576
    ISBN (Electronic)9780429507946
    DOIs
    Publication statusPublished - Feb 2019
    SeriesThe International Political Economy of New Regionalisms Series

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